First Hawaiian, Inc. (NASDAQ:FHB) Receives Average Recommendation of “Hold” from Brokerages

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have been assigned an average recommendation of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $30.25.

A number of research analysts recently issued reports on FHB shares. JPMorgan Chase & Co. raised their price target on First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Zacks Research upgraded First Hawaiian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Wells Fargo & Company increased their price objective on First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, July 6th. The Goldman Sachs Group raised their target price on shares of First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Hawaiian in a report on Monday, July 6th.

First Hawaiian Stock Down 0.8%

NASDAQ FHB opened at $27.27 on Tuesday. First Hawaiian has a 52 week low of $22.65 and a 52 week high of $30.58. The stock has a market capitalization of $3.32 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.73 and a beta of 0.73. The firm has a 50 day moving average of $28.54 and a two-hundred day moving average of $26.95.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same period in the previous year, the business earned $0.58 EPS. On average, equities research analysts expect that First Hawaiian will post 2.34 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.8%. First Hawaiian’s payout ratio is presently 45.22%.

Institutional Investors Weigh In On First Hawaiian

Several hedge funds have recently modified their holdings of the stock. Illinois Municipal Retirement Fund boosted its stake in shares of First Hawaiian by 0.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock worth $1,602,000 after acquiring an additional 397 shares in the last quarter. Evolve Private Wealth LLC increased its stake in First Hawaiian by 1.6% in the 1st quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock valued at $643,000 after purchasing an additional 406 shares in the last quarter. Parallel Advisors LLC increased its stake in First Hawaiian by 11.3% in the 1st quarter. Parallel Advisors LLC now owns 5,171 shares of the bank’s stock valued at $127,000 after purchasing an additional 525 shares in the last quarter. Global Retirement Partners LLC raised its holdings in First Hawaiian by 45.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after purchasing an additional 534 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in First Hawaiian by 0.4% during the fourth quarter. Royal Bank of Canada now owns 139,962 shares of the bank’s stock worth $3,540,000 after purchasing an additional 568 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

About First Hawaiian

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.